Vontobel Holding Ltd. Cuts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Vontobel Holding Ltd. reduced its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,081 shares of the company's stock after selling 2,438 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cardinal Health were worth $8,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CAH. Pinnacle Bancorp Inc. lifted its position in Cardinal Health by 11.2% during the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after buying an additional 77 shares during the period. CSS LLC IL increased its stake in shares of Cardinal Health by 0.8% in the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after acquiring an additional 90 shares in the last quarter. Perigon Wealth Management LLC lifted its position in Cardinal Health by 4.2% during the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock valued at $309,000 after acquiring an additional 90 shares during the period. Smith Shellnut Wilson LLC ADV boosted its stake in Cardinal Health by 2.1% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after acquiring an additional 91 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after purchasing an additional 92 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup reiterated a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Morgan Stanley set a $181.00 price target on Cardinal Health and gave the company an "overweight" rating in a report on Friday, June 13th. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Finally, UBS Group increased their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Stock Up 1.7%

Shares of NYSE CAH traded up $2.82 during trading on Friday, reaching $164.80. 1,234,057 shares of the company traded hands, compared to its average volume of 2,245,561. The firm has a 50 day simple moving average of $155.58 and a 200-day simple moving average of $137.16. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $168.44. The stock has a market capitalization of $39.33 billion, a PE ratio of 25.71, a P/E/G ratio of 1.63 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same period in the previous year, the business posted $2.08 earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is currently 31.83%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.